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ABN Amro to price 10.5% reverse exchangeables linked to Schlumberger
By Susanna Moon
Chicago, April 7 - ABN Amro Bank NV plans to price Knock-in Reverse Exchangeable Securities due July 31, 2008 linked to the common stock of Schlumberger NV, according to an FWP filing with the Securities and Exchange Commission.
The three-month notes will pay an annualized rate of 10.5%. Interest will be payable monthly.
The payout at maturity will be par unless Schlumberger stock falls below the knock-in price - 80% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Schlumberger shares equal to $1,000 divided by the initial share price.
The notes are expected to price on April 25 and settle on April 30.
ABN Amro Inc. will be the lead agent.
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